KMG EP Announces Operating Results for the first quarter of 2016
Ozenmunaigas JSC (OMG) produced 1,387 thousand tonnes (112 kbopd), an increase of 48 thousand tonnes (4 kbopd) or 4% over 1Q2015. Embamunaigas JSC (EMG) produced 702 thousand tonnes (57 kbopd), up 20 thousand tonnes (2 kbopd) over 1Q2015. The total volume of oil produced at OMG and EMG over the quarter was 2,089 thousand tonnes (169 kbopd), up 3% on the same period of 2015 in accordance with the production plan.
The Company’s share in production from CCEL, KGM and PKI for first quarter of 2016 amounted to 954 thousand tonnes of crude oil (78 kbopd), or 6% lower than in 1Q2015 which primarily relates to the expected decline of production at PKI.
In the first quarter of 2016, OMG and EMG sold 2,050 thousand tonnes (163 kbopd) of crude oil; this includes 1,220 thousand tonnes (97 kbopd) or 60% of crude oil for export, and 830 thousand tonnes (66 kbopd) of crude oil for the domestic market. Additionally, 3 thousand tonnes of oil products were sold to the domestic market.
Of the 830 thousand tonnes (66 kbopd) of crude oil supplied from OMG and EMG to the domestic market, 580 thousand tonnes (46 kbopd) of crude oil were supplied to the Atyrau Refinery and 250 thousand tonnes (20 kbopd) of crude oil were supplied to the Pavlodar Petrochemical Plant.
The Company’s share in crude oil sales from CCEL, KGM, and PKI was 965 thousand tonnes (79 kbopd) including 559 thousand tonnes (44 kbopd) supplied for export which is 58% of the total sales volume. Crude oil sales to the domestic market were 406 thousand tonnes (35 kbopd), of which 292 thousand tonnes (25 kbopd) were supplied to the Pavlodar Petrochemical Plant, and 114 thousand tonnes (10 kbopd) to the Shymkent Refinery.
Crude oil sales in the first quarter of 2016 (in thousands of tonnes).
|
Crude oil sales |
Export |
Domestic market |
Atyrau Refinery |
Pavlodar Refinery |
Shymkent Refinery |
|
|
OMG and EMG |
2,050 |
1,220 |
830 |
580 |
250 |
0 |
|
CCEL, KGM and PKI (the Company’s share) |
965 |
559 |
406 |
292 |
0 |
114 |
Crude oil sales in the first quarter of 2016 (in kbopd).
|
Crude oil sales |
Export |
Domestic market |
Atyrau Refinery |
Pavlodar Refinery |
Shymkent Refinery |
|
|
OMG and EMG |
163 |
97 |
66 |
46 |
20 |
0 |
|
CCEL, KGM and PKI (the Company’s share) |
79 |
44 |
35 |
25 |
0 |
10 |
Total 2P reserves
As announced earlier in a press release dated 25th February 2016, according to the report by DeGolyer and MacNaughton, according to the report by DeGolyer and MacNaughton, Proven and Probable (2P) reserves of liquid hydrocarbons as at 31 December 2015 excluding the Company’s stakes in JV Kazgermunai LLP, CCEL and PetroKazakhstan Inc. were 152 million tonnes (1,115 million barrels), which is 15% higher than at the end of 2014.
Assessment of 2P reserves of joint ventures were made separately by independent auditors. KMG EP’s share in overall 2P reserves of KGM (50% stake), CCEL (50% stake) and PKI (33% stake) as at the end of 2015 amounted to 41 million tonnes (294 million barrels). Thus, total 2P reserves of KMG EP including its stakes in KGM, CCEL, and PKI as at the end of 2015 amounted to 193 million tonnes (1,409 million barrels).
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